Subscribe Free
in Business & Finance / Airports

Dubai adds $3billion to airport expansion funding

Posted 4 November 2016 · Add Comment

Dubai is looking to raise US $3 billion to fund expansion of its two international airports and has hired HSBC to advise on raising the finance. The Department of Finance, Government of Dubai, says HSBC will advise it, the Investment Corporation of Dubai and Dubai Aviation City Corporation on raising funds through various sources, including Islamic financing.

The emirate wants to boost annual passenger flows at its Dubai (DXB) and Al Maktoum (DWC) international airports to 146 million by 2025 from 78.5 million last year.

"Dubai remains firmly committed to the development of the Al Maktoum International Airport and to the growth of the global aviation sector, and this initial $3bn transaction to support Dubai’s ambitious 2025 passenger capacity targets is testament to our belief," said Sheikh Ahmed bin Saeed Al Maktoum, Chairman of Dubai’s Supreme Fiscal Committee. DXB is already the world’s busiest airport in terms of passenger traffic handling the bulk – 78 million – of the emirate’s 2015 throughput.


From 2025, DWC will become Dubai’s primary airport and home to Emirates Airline.
 

* required field

Post a comment

Other Stories
Advertisement
Latest News

Bahrain all set to unblock the Combi

Visitors to next year's Bahrain International Airshow could well get their first view of the new PEMCO B737-700FC FlexCombi. Barbara Saunders reports.

Turkish Airlines to order 20 + 20 787-9 Dreamliners

During Turkish President Recep Tayyip Erdoğan's visit to New York to join the United Nations General Assembly, Boeing and Turkish Airlines announced a commitment to order 40 787-9 Dreamliners.

Abu Dhabi Airports achieves 65% increase in operating profit this year

Abu Dhabi Airports has announced that it has achieved 65% increase in earnings before interest, depreciation and amortization (EBIDA)/ operating profit during the January-August period this year compared to the same period in 2016.

University of South Wales to deliver engineering degree courses in UAE

The University of South Wales (USW) is to deliver degrees to aerospace engineering students as a key partner at the UAE's new Dubai South development.

Saudia and SITAONAIR deliver unique inflight Wi-Fi Pax Ex with Internet ONAIR

Saudia and SITAONAIR are activating fresh functionalities for personalising the onboard digital journey.



Inmarsat to demonstrate advanced SwiftBroadband-Safety capabilities in flight trial

Inmarsat will demonstrate its advanced new SwiftBroadband-Safety (SB-S) solution in a flight trial with FLYHT.

Kuwait Aviation SK1909310118
See us at
Aviation Africa BT18418DIAC BT1105121117Aviation Show 267291117DASAS BT3006161117Commercial Aircraft Financing BT2017Global Aerospace BT28218DAS BT1105161117AIMA Africa 2017AIME BT1204240118